Open Source Cloud Platform Minio Bags $3.3 Million of Seed Funding

Bangalore: California based open source cloud storage platform, Minio raises $3.3 million in its seed round of funding led by General Catalyst and Nexus Venture Partners. The round also witnessed participation from Yahoo Co-Founder Jerry Yang’s venture fund AME Cloud Ventures, Index Ventures and other angel investors like Mark Leslie (Founder of Veritas Software), Brian Stevens (Google Vice-President) and Lanham Napier (Rackspace former Chief Executive). The company will utilize the funds to enhance and improve its projects which include Minio Server, Minio Client and Minio Libraries, while the funds will also be used to increase their staff count.

Founded in November 2014 by Anand Babu Periasamy, Frederick Kautz, Harshavardhana and Garima Kapoor, Minio is an open source object storage software inspired by Amazon S3 API and Facebook’s Haystack object format. Its server and client are written in ‘golang’ and released under Apache v2 license. Minio enables application developers to create their own cloud storage and scale to millions of users. The application developers can not only include object storage with their application stack, just like Node.js, MongoDB and Cassandra, but can also access hosted Minio server for testing and development.

According to a recent survey by industry analyst, MarketsAndMarkets, the public/private cloud storage market is expected to leap from $13.57 billion in 2014 to $56.57 billion in 2019 at a compound annual growth rate (CAGR) of 33.1 percent. Minio aims to democratize cloud storage by building object storage in the open source community.